Tax 24
Joined: 7/4/2024
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No CGT on gifted foreign property sale with usufruct?
Hello, Can you confirm that I do not need to pay any CGT in the following scenario? I am a UK tax payer and resident in the UK. Received a property in Germany as a gift longer than 7 years ago Mother in Germany was usufrutuary from moment property was gifted Mother gave up right of usufructuray upon sale of property for which I received all proceeds in Germany & my mother got nothing. I believe I do not need to pay CGT as my mother was the beneficiary owner and I only benefited from the gift after the sale of the property. Many thanks